business

Dvara KGFS raises $10 mn from Triple Jump

On Jul 09, 2024 By The Hindu Bureau

Dvara Kshetriya Gramin Financial Services Pvt. Ltd. (Dvara KGFS) has raised Subordinated Debt of $5 million and Senior Secured Debt of $5 million through External Commercial Borrowings from Triple Jump as Portfolio Manager of the Global Gender-Smart Fund.

“The proceeds from the fundraiser will be used towards providing micro enterprise loans to women beneficiaries,” said Dvara KGFS MD & CEO LVLN Murty in a statement.

“The subordinated debt facility will help fortify our capital adequacy and provide the desired runway for the company to achieve its growth initiatives,” said Dvara KGFS CFO Shilpa Bhatter.

The leading rural NBFC also announced its foray into Andhra Pradesh to shore up its enterprise loans portfolio. With this foray, Dvara KGFS has presence in 11 states across the country.

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